Rising electricity and gas prices and What the experts are saying and predicting
In March 2022, Money-Saving Expert Martin Lewis warned anyone who uses direct debit to pay for their energy bills. The TV finance expert was concerned that people could make a huge mistake if they try and change the way they pay to try and lower their outgoings each month
He said: “WARNING! Many talking about cancelling energy Direct Debits to ‘keep in control’ and just pay when billed.
“Yet be aware that’s usually charged at a HIGHER RATE. Price cap (for someone with typical use) paying by:
“Monthly DD £1,971. Prepay meter £2,017. Quarterly bills £2,100”
This is just one expert’s opinion, but in reality, I think everyone is wondering what else could increase at such a ridiculous rate. The reality is many people are struggling to pay their monthly outgoings and feel completely stuck in a rut.
You may be able to save money on your monthly mortgage costs if you are for instance about to go onto your lender’s standard variable rate. Whatever your situation even if you have received a change in income, it’s always worth reaching out to us.
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Article wrote: April 14th, 2022
Please be aware the details of this article are appropriate from the time it was written, therefore any information given after this date may have changed.
Be aware that if you are unable to keep up your mortgage repayments you may lose your home. We are professional mortgage brokers with a joint knowledge of 75 years. So if you have any mortgage-related questions feel free to drop us a line at: hello@mtge.uk